Emaar to end UAE’s IPO drought
Luciano Jannelli, head of investment strategy at Abu Dhabi Commercial Bank, discusses the Aramco IPO and Emaar’s IPO plan.
How much value is trapped in the region because of the Gulf crisis? to answer this, Jannelli delves into the idea that last year saw the decoupling of equity from oil pricing, leading to a drive for more economic reforms coming out out of the GCC. He said the focus has been on Saudi with the new city on the Red Sea but that there were doubts about the Aramco IPO.
But with Emaar IPO-ing a subsidiary, and with Dubai having prospered irrespective of oil pricing, the chances for a successful IPO is very optimistic.